This compound is primarily utilized in the synthesis of various pharmaceuticals and agrochemicals due to its versatile chemical structure. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs), particularly in the development of drugs targeting neurological and inflammatory conditions. Its role in the creation of herbicides and pesticides is also notable, as it contributes to the formulation of compounds that effectively control weed and pest populations in agricultural settings. Additionally, it is employed in research and development for designing novel chemical entities with potential therapeutic or agricultural applications. Its stability and reactivity make it a valuable component in organic synthesis and industrial chemistry.